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Kimberly Enterprises N.V.  -  KBE   

Further update re Marina Dorcol

Released 16:35 28-Dec-2017

RNS Number : 5068A
Kimberly Enterprises N.V.
28 December 2017


Kimberly Enterprises N.V.

("Kimberly" or the "Company")


Further update re Marina Dorcol


Further to the third quarter trading update announced on 29 November 2017, Kimberly Enterprises N.V., the AIM-listed Central and Eastern European property developer (KBE: L), is pleased to announce that, following the termination of the lease agreement between Marina Dorcol d.o.o ("MD") (a 95% owned subsidiary of the Company) with the Municipality of Belgrade (the "Municipality"), the Company has received €2.2 million in compensation from the Municipality in full and final settlement of the termination.

Notwithstanding the receipt of these funds, the Company's financial position remains weak.  As at 30 September 2017, the Group had total liabilities amounting to €27.0m, which exceeded its total assets which amounted to €3.7m, and had negative equity of €23.3m.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:


Kimberly Enterprises N.V.

Sagee Kadosh

+31 20 778 4141

Cairn Financial Advisers LLP (Nomad)

Sandy Jamieson, James Caithie

+44 207 213 0880


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Further update re Marina Dorcol - RNS